PAQMANAGEMENT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PAQMANAGEMENT
Largest movements
- Receivables after one year +€17,000
up €17,000 (+169%), from €10,050 to €27,050
- Cash -€10,833
down €10,833 (-27.5%), from €39,416 to €28,582
mainly Receivables after one year (-€17,000) and Tax, wage and social debts (-€3,378)
- Tangible fixed assets +€825
up €825 (+32.9%), from €2,512 to €3,337
of which Furniture and vehicles: +€1,265
- Other debts +€7,283
new in 2025: €7,283
- Trade debts +€4,572
up €4,572 (+41.8%), from €10,926 to €15,498
- Tax, wage and social debts -€3,378
down €3,378 (-55.1%), from €6,128 to €2,750
of which Remuneration and social security: -€4,268
- Profit (loss) carried forward -€1,090
down €1,090 (-21.3%), from €5,118 to €4,029
- Gross operating margin -€5,772
down €5,772 (-93.9%), from €6,149 to €376
- Taxes -€1,160
no longer reported in 2025 (was €1,160)
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,172 | €59,560 | +€7,388 | +14.2% |
| Fixed assets | 21/28 | €2,512 | €3,337 | +€825 | +32.9% |
| Tangible fixed assets | 22/27 | €2,512 | €3,337 | +€825 | +32.9% |
| Plant, machinery and equipment | 23 | €880 | €440 | -€440 | -50.0% |
| Furniture and vehicles | 24 | €1,632 | €2,897 | +€1,265 | +77.6% |
| Current assets | 29/58 | €49,660 | €56,223 | +€6,562 | +13.2% |
| Amounts receivable after more than one year | 29 | €10,050 | €27,050 | +€17,000 | +169% |
| Trade receivables | 290 | €10,050 | €27,050 | +€17,000 | +169% |
| Amounts receivable within one year | 40/41 | €195 | €590 | +€396 | +203% |
| Other amounts receivable | 41 | €195 | €590 | +€396 | +203% |
| Cash at bank and in hand | 54/58 | €39,416 | €28,582 | -€10,833 | -27.5% |
| Total equity and liabilities | 10/49 | €52,172 | €59,560 | +€7,388 | +14.2% |
| Equity | 10/15 | €35,118 | €34,029 | -€1,090 | -3.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,118 | €4,029 | -€1,090 | -21.3% |
| Amounts payable | 17/49 | €17,054 | €25,531 | +€8,478 | +49.7% |
| Amounts payable within one year | 42/48 | €17,054 | €25,531 | +€8,478 | +49.7% |
| Trade debts | 44 | €10,926 | €15,498 | +€4,572 | +41.8% |
| Suppliers | 440/4 | €10,926 | €15,498 | +€4,572 | +41.8% |
| Taxes, remuneration and social security | 45 | €6,128 | €2,750 | -€3,378 | -55.1% |
| Taxes | 450/3 | €1,860 | €2,750 | +€890 | +47.8% |
| Remuneration and social security | 454/9 | €4,268 | - | -€4,268 | |
| Other amounts payable | 47/48 | - | €7,283 | +€7,283 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €946 | €953 | +€7 | +0.8% |
| Other operating charges | 640/8 | €446 | €449 | +€3 | +0.6% |
| Gross operating margin | 9900 | €6,149 | €376 | -€5,772 | -93.9% |
| Operating profit (loss) | 9901 | €4,757 | -€1,026 | -€5,783 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €64 | +€25 | +63.4% |
| Recurring financial charges | 65 | €39 | €64 | +€25 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €4,718 | -€1,090 | -€5,807 | |
| Income taxes | 67/77 | €1,160 | - | -€1,160 | |
| Profit (loss) for the period | 9904 | €3,557 | -€1,090 | -€4,647 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,557 | -€1,090 | -€4,647 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.